Highlights Of RBI Governor Shaktikanta Das' Speech
Reserve Bank of India Governor Shaktikanta Das is making an unscheduled speech as the second wave of coronavirus continues to devastate the country. India has emerged as the coronavirus hotspot, with surging cases overwhelming the healthcare system. India has already crossed the 2-crore mark in total Covid infections caseload, which is the second highest globally -- just behind the United States and ahead of Brazil.
Prime Minister Narendra Modi has so far resisted pressure to impose a lockdown to stem the spread of the dreaded virus. Earlier this week, president of the Confederation of Indian Industry and chief executive of Kotak Mahindra Bank Uday Kotak had called upon the government to consider curtailing economic activity to cut the transmission chain of coronavirus.
Here are some key highlights of RBI Governor Shaktikanta Das' Speech
Have faith in India's ability to come out of Covid-19 crisis, Shaktikanta Das said and added that RBI continues to monitor the Covid-19 situation.
India is fighting a ferocious rise in Coronavirus cases and we have to marshall all our resources with renewed vigour, the Governor added.
We have decided to provide a term liquidity facility of Rs. 50,000 crore to ease access of new funds to Emergency Medical Services
The banks can lend to hospitals, oxygen suppliers and vaccine importers by March 31, 2022
Businesses are learning to work amid localized and targeted containment measures.Â
Disruption in manufacturing is minimal and we do not expect any major deviation from our growth projection in April 2021
We have decided a Resolutìon Framework 2.0 to help stressed small borrowers (both individuals and MSMEs) who are most vulnerable in the present situation
KYC compliance is being rationalised; limited KYC can now be used till December 1, 2021.
Good monsoon expectation will keep rural demand strong
-
Talking Points This Week: Leadership Shock At Nvidia, Earnings Strength, And The Fog Over Hormuz
The Anthropic IPO pricing and first trading day, Nvidia's upcoming earnings, and any fresh signals from Iran will set the tone for the following week.
-
Signature Play: The Classic Cocktail Is Dead. Or Is It?
Classic cocktails are disappearing from India's cocktail menus. But they're still being ordered, taught to bartenders and borrowed from. So, who's really having the last drink?
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
